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Lawrence Lindsey: Fed Virtually Funding the Entire US Deficit
Posted By Adan On September 27, 2012 @ 10:33 am In Economic Crisis | Comments Disabled
September 27, 2012
The latest round of extraordinary Federal Reserve stimulus is risky and leaves little room to maneuver should another crisis hit, economist Lawrence Lindsey told CNBC’s “Squawk Box” on Wednesday.
Lindsey said that with the Fed purchasing at least $40 billion a month in mortgage debt through QE3, “they are buying the entire deficit.”
“I have no problem doing extraordinary things in extraordinary times,” said Lindsey, a former White House economic advisor under former president George W. Bush who now runs his own consulting firm.
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